Finance Minister says that it would consider leaving euro rather than paying for the debts of another country.

FINLAND WOULD CONSIDER leaving the Euro rather than paying the debts of another country, the country’s finance minister has said.

In an interview published in the Finnish financial daily Kauppalehti this morning, Jutta Urpilainen said “Finland “will not hang itself to the euro at any cost and we are prepared for all scenarios”.

While broadly supportive of Finland’s membership of the currency union, she said she could not endorse a mutualisation of debts, which Germany has agreed to once certain conditions are met.

“Collective responsibility for other countries’ debt, economics and risks; this is not what we should be prepared for.”

Her announcement came as the cost of borrowing in Spain and Italy rose and the IMF warned that the global economy is set to slow further. Italy’s 10 year bond yield was over 6 per cent, with Spain having to pay just over 7 per cent.

TheJournal.ie is a full participating member of the Press Council of Ireland and supports
the Office of the Press Ombudsman. This scheme in addition to defending the freedom of the
press, offers readers a quick, fair and free method of dealing with complaints that they may
have in relation to articles that appear on our pages. To contact the Office of the
Press Ombudsman Lo-Call 1890 208 080 or go to
www.pressombudsman.ie
or www.presscouncil.ie

Please note that TheJournal.ie uses cookies to improve your experience and to provide services and advertising. For more information on cookies please refer to our cookies policy.

Journal Media does not control and is not responsible for user created content, posts, comments, submissions or preferences. Users are reminded that they are fully responsible for their own created content and their own posts, comments and submissions and fully and effectively warrant and indemnify Journal Media in relation to such content and their ability to make such content, posts, comments and submissions available. Journal Media does not control and is not responsible for the content of external websites.